In addition depreciation for tax purposes exceeds


1. Shetland Inc. had pretax financial income of $154,000 in 2010. Included in the computation of that amount is insurance expense of $4,000 which is not deductible for tax purposes. In addition, depreciation for tax purposes exceeds accounting depreciation by $10,000. Prepare Shetland's journal entry to record 2010 taxes, assuming a tax rate of 45%

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Accounting Basics: In addition depreciation for tax purposes exceeds
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